Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-10-21-Speech-1-048"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2002-10-21"^^xsd:date2
dcterms:Is Part Of	lp_eu:Stability and Growth Pact2
dcterms:Language	"de"^^xsd:language2
lpv:document identification number	"en.20021021.4.1-048"2
lpv:hasSubsequent	lp_eu:2002-10-21-Speech-1-0492
lpv:speaker	lp:Ingo Friedrich2
lpv:spokenAs	vice-president; Parliament's Bureau (2002-01-15--2004-07-19)3 unknown; Christlich-Soziale Union in Bayern e.V. (1999-07-20--2004-07-19)3 member; ECON (2002-01-17--2004-07-19)3 member_of_the_bureau; EPP-ED (2002-03-08--2004-07-19)3 vice-president; European Parliament (2002-01-15--2004-07-19)3 member; Delegation to the EU-Hungary Joint Parliamentary Committee (2002-02-07--2004-04-30)3
lpv:translated text	"Mr President, the Stability and Growth Pact is not just any old rule; it is at the heart of the regulatory framework of the euro. It is interesting that applause came at once from the wrong quarter. In every country, those who pursue inflationary policies suddenly felt themselves to be affirmed and encouraged by what the President of the Commission had to say. The truth of the matter is that, throughout the history of political economy, statistics prove that lasting growth can be achieved only by stability and a stable currency. Run up more debt, and what you get is not growth, but inflation and stagnation. It was Helmut Schmidt who said, ‘I would rather have 5% inflation than a 5% increase in unemployment.’ Afterwards, he ended up with higher inflation and more unemployment. Such is the demonstrable reality of our continent's economic history. How, then, Mr President of the Commission, are the rules to be adhered to if they are, at the same time, categorised as stupid? For God's sake, is it not enough to be in debt to the tune of EUR 4 700 billion? Getting into debt is the easy way out, incurring fewer debts and consolidating budgets the hard one, but we know from the Bible that easy is the way that leads to destruction. The hard way, by which I mean budget consolidation, is the right one, and, suddenly, we are unwilling to expect our governments to take it. No, that was a mistake, Mr President of the Commission! Such an elegant provocation ... ... is all very well, but what we need here is a serious policy. Only a serious policy is reliable and has effects that can be calculated. Mr President of the Commission, for the sake of the euro's success, withdraw your statement!"@en1
lpv:unclassifiedMetadata	"(Applause)"1 "(Interruption)"1

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